RWE’s Senior and Hybrid Bonds at a Glance

RWE has issued the following senior bonds:

Format Currency Volume in million Maturity date Coupon (%) Securities Code ISIN Code Paying Agent Further information
Green Use of Proceeds EUR 1,000 24 May 2026 2.125 A30VJE XS2482936247 Deutsche Bank AG Link
Green Use of Proceeds EUR 750 26 November 2028 0.50 A3MP70 XS2412044567 Deutsche Bank AG Link
Green Use of Proceeds EUR 500 13 February 2029 3.625 A30V83 XS2584685031 Deutsche Bank AG Link
Green Use of Proceeds EUR 1,000 24 May 2030 2.75 A30VJF XS2482887879 Deutsche Bank AG Link
Green Use of Proceeds EUR 500 11 June 2031 0.625 A3E5VA XS2351092478 Deutsche Bank AG Link
Green Use of Proceeds EUR 500 10 January 2032 3.625 A3826L XS2743711298 Deutsche Bank AG Link
Green Use of Proceeds EUR 600 26 November 2033 1.00 A3MP71 XS2412044641 Deutsche Bank AG Link
144A / Reg S Green Use of Proceeds USD 1,000 16 April 2034 5.875% Rule 144A CUSIP 749983AA0
Reg S CUSIP U77796AA5
Rule 144A ISIN US749983AA01
Reg S ISIN USU77796AA56
Citibank, N.A. Link
Green Use of Proceeds EUR

500

13 February 2035 4.125 A30V84 XS2584685387 Deutsche Bank AG Link
144A / Reg S Green Use of Proceeds USD 1,000 16 April 2054 6.250% Rule 144A CUSIP 749983AB8
Reg S CUSIP U77796AB3
Rule 144A ISIN US749983AB83
Reg S ISIN USU77796AB30
Citibank, N.A. Link

Format Currency Volume in million Maturity date Coupon (%) German Securities Code ISIN Code Paying Agent Further information
conventional EUR 1,250 24 August 2025 2.50 A30VMU XS2523390271 Deutsche Bank AG Link
conventional EUR 12.2 26 October 2037 3.500 A1PGV8 XS0826313990 Deutsche Bank AG

At the end of February 2017, we transferred our debt from senior bonds outstanding at the time to our former financial investment innogy. innogy was transferred to E.ON in September 2019 as part of an extensive asset swap. The transfer of debt had been initiated immediately after the IPO of our former financial investment. As a result, innogy replaced RWE AG as the guarantor for the public senior bonds and as the debtor of the privately placed bonds. After the transfer, just a residual amount of a private placement remained with RWE AG.


RWE has also issued the following hybrid bonds:

Format Currency Volume in million First call date Coupon (%) German Securities Code ISIN Code Paying Agent Further information
conventional EUR 281.7 21 April 2025 3.500 A14KAB XS1219499032

Deutsche Bank AG

Link

conventional USD 317.4 30 March 2026 6.625 A13SHX XS1254119750

Deutsche Bank AG

Link

Our hybrid capital currently stands at around €0.6 billion. At the end of 2016 it was still around €3.9 billion. In April, July and October 2017, we repaid three hybrid bonds at the earliest possible time with a nominal converted total value of about €1.3 billion. In addition to these repayments, we used part of the nuclear fuel tax to buy back further hybrid bonds with a nominal converted total value of around €0.6 billion. End of March 2019 we exercised our right to redeem the GBP 750 million hybrid bond and in October 2020 the €539 million hybrid bond on its first call date.

On 15 September 2015, RWE Aktiengesellschaft has undertaken to the respective holders of the securities that are listed in the document below as third party beneficiaries according to § 328 para. 1 German Civil Code that it will make a tender offer pursuant to which it will offer to repurchase the securities at their respective principal amounts plus any interest accrued until the day of completion of the repurchase if a change of control event has occurred.

The undertaking to effect a Tender Offer of RWE Aktiengesellschaft replaces an undertaking to effect a tender offer dated 24. September 2010, which was time limited and which expired on 28 September 2015 upon the repayment of the hybrid bond issued on 28. September 2010 (ISIN XS0542298012).

15.09.2015 - Post-Admission Duties Announcement according to Article 30e of the WpHG

For the complete text of the undertaking to effect a tender offer please see:

15.09.2015 - RWE AG Undertaking to effect a tender offer following a change of control event (PDF)

Declaration of Waiver and S&P Statement:

Notice regarding the following Subordinated Notes:

EUR 700,000,000 Subordinated Notes issued on 14 April 2015 (XS1219498141),

EUR 550,000,000 Subordinated Notes issued on 14 April 2015 (XS1219499032) and

USD 500,000,000 Subordinated Notes issued on 23 July 2015 (XS1254119750)

Declaration of Waiver:

Waiver of a certain call right pursuant to § 5(2) of the Terms and Conditions of the Subordinated Notes (PDF)

S&P Statement:

German Utility RWE AG Hybrid Equity Content Revised To Intermediate (PDF)


Frequently asked questions regarding a hybrid bond